Minerva Neurosciences Inc. (NERV) Shares Up 8.6%
Minerva Neurosciences Inc. (NASDAQ:NERV)’s share price shot up 8.6% on Friday . The company traded as high as $12.28 and last traded at $11.67, with a volume of 400,628 shares. The stock had previously closed at $10.75.
A number of brokerages have recently weighed in on NERV. Zacks Investment Research lowered Minerva Neurosciences from a “buy” rating to a “sell” rating in a research note on Wednesday, June 1st. Jefferies Group reiterated a “buy” rating and set a $17.00 target price on shares of Minerva Neurosciences in a research note on Wednesday, June 8th. Finally, JMP Securities increased their target price on Minerva Neurosciences from $10.00 to $17.00 in a research note on Thursday, May 26th.
The company’s market cap is $405.48 million. The company has a 50-day moving average price of $10.82 and a 200-day moving average price of $7.74.
Minerva Neurosciences (NASDAQ:NERV) last issued its quarterly earnings data on Thursday, August 4th. The biopharmaceutical company reported ($0.18) EPS for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.12. During the same period in the prior year, the business earned ($0.27) EPS. Equities research analysts forecast that Minerva Neurosciences Inc. will post ($0.90) earnings per share for the current year.
In related news, Director David Kupfer acquired 55,635 shares of the firm’s stock in a transaction on Tuesday, June 21st. The stock was purchased at an average cost of $10.84 per share, with a total value of $603,083.40. Following the acquisition, the director now owns 209,188 shares of the company’s stock, valued at approximately $2,267,597.92. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Venture Associates L. Index III sold 1,000,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 10th. The stock was sold at an average price of $10.00, for a total value of $10,000,000.00. The disclosure for this sale can be found here.
Minerva Neurosciences, Inc is a clinical-stage biopharmaceutical company. The Company is focused on the development and commercialization of a portfolio of product candidates to treat patients suffering from central nervous system (CNS) diseases. The Company’s product portfolio include MIN-101 for the treatment of schizophrenia; MIN-117 for the treatment of major depressive disorder (MDD); MIN-202 (also known as JNJ-42847922) for the treatment of insomnia disorder and adjunctive MDD, and MIN-301 for the treatment of Parkinson’s disease.
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